Report: Global Poverty to Fall Below 10%

The World Bank said Sunday that, for the first time, fewer than 10 percent of the world’s population will be living in extreme poverty by the year’s end. Using a new income figure of $1.90 per day to define “extreme poverty,” which is up from $1.25, the bank said the proportion of the world’s population in this category falls from 12.8 percent in 2012 to 9.6 percent. However, half of the world’s poor remain in sub-Saharan Africa, which remains “of great concern.” The organization said the drop was due to strong growth rates in developing countries and investments in education, health, and social safety nets.